News

Dean Foods completed the previously announced sale of the company’s Uncle Matt’s business to Harmoni. The company also completed the sale of multiple facilities and the Meadow Gold Hawaii brand name to MGD Acquisition. 

Asset Based Lending Consultants opened new offices in Connecticut and the New York Metropolitan Area, which will be led by Patrick Chemngorem, CPA, and Dustin Fitzpatrick, respectively.

The AICPA released recommendations on the appropriate documents and calculations that small businesses should use to qualify for loan forgiveness under the Paycheck Protection Program, including aligning the eight-week coverage period with the beginning of a pay period.

The American Bankruptcy Institute (ABI) launched a COVID-19 resources website for bankruptcy professionals and the public to access information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic.

BlueVine is partnering with FLEETCOR Technologies to help businesses apply for government relief funding through the Small Business Administration’s Paycheck Protection Program.

Tallwood Venture Capital arranged $27.9 million in debtor-in-possession financing for Wave Computing, which filed for relief under Chapter 11 of the Bankruptcy Code. In addition, Lawrence Perkins of SierraConstellation Partners will serve as the company’s chief restructuring officer.

A syndicate of seven banks led by ING Capital extended BlackRock TCP Capital’s SVCP revolving credit facility by one year to May 6, 2024. The size of the facility remains $270 million, and the pricing and advance rates were unchanged.

The AICPA called for the Federal Reserve to create a short-term accounts receivable lending facility for small businesses.

Bank of the West led the fifth amendment to American Vanguard’s second amended and restated credit agreement, increasing the ratio of maximum loan to trailing EBITDA to 4.25-to-1 and then gradually decreasing the ratio to current levels over the next...

Crestmark secured a total of $24.15 million in ABL financial solutions for 14 new clients in the first half of April, including a $12 million ledgered line of credit facility to an air transport support and services company in Texas.